see people with milder symptoms. less hospital admissions they do very well. jackie: of the crop to watch and get little more data on. and see how pervasive it actually is. thank you for your insight. >> pleasure. physics i am jackie in for elizabeth mcdowell pretty much in the evening edition on fox network pray thanks for watching have a great weekend. ♪ ♪ ♪ from that foxy deuce in new york city this is maria bartiromo's wall street. spieth hello and happy weekend to all but welcome to the program that analyzes the week that was an helps position you for the week ahead. i am maria bartiromo pray thanks for joining us for a better-than-expected job support for the month of june. the white house touting a stronger economy than ever in history. kenny and joni are here with reaction. plus, there could beat major power outages across the country

this summer caused by the new green energy policies. energy expert daniel turner is sounding the alarm part he will tell us why. and what information do u.s. banks have on hunter biden's shady for business deals? congressman james comer is demanding answers from treasury secretary janet yelled on the more than one or 50 transactions. he will join me coming up. but first take a look at markets over the ended. another big week after got better-than-expected job support for the month of june. three to 72000 jobs were added to the economy and the month that the unpleasant rate holding steady at 3.6%. i to your lobe or the white house as we now have the strongest economy in history, even though we are in fact in a contraction for john merritt outlets slight sold wealth sheet market strategist and joni. great to see you guys thank you so much for being with me this weekend. kenny, how is that possible without such strong job creation even though we just saw a contraction of first quarter and the atlantic federal reserve is

expecting a contraction in the second quarter? xi know that is crazy right how that number comes up or i guess we have to dissect it, digested figure how they really came up with that number. but one way or the number that solidifies absolute solidifies we can expect 75 basis point rate increase come the end of the month with the fed chair. it was stronger than expected. >> spate joni assessed this report for us for the jobs? >> maria that this could of recession that we have ever seen before in fact i heard an investor talking about recession are like snowflakes no two are ever alike. i think this one is going to be really different. because the job market is predicted to remain very strong pray there so much demand for workers today in all sectors across the board. we see it in trade and transportation, and healthcare. professional and business services. retail, manufacturing,

construction all have a demand for workers. they are really struggling to get people back to work. i think the disconnect here avoid the job market remains strong is all about labor participation. we just don't have enough people participating and that is why this might be a different that what we have experienced before. ask kate let me get your job on that in the markets. your reaction to this report seems to be somewhat positive. and yet you're still looking down in the double digits. we are coming off of a little bit of a buying spree. was this a trade to beat down tech stocks? would you buy into this rally that we are seeing in the last couple of weeks and big tech? >> i would not buy into it yet i think that's exactly what it was by think we are in oversold position i think there's some

thought the fed was going to blank or pivot. the fuel to the fire they're the ones that have been added and destroyed this for the trade type that makes perfect sense. the fed's going to stay on course they're not going to blank for their going to continue. once again it's going to seat pressure come to the tech names. as you know those of the names are going to get hit in a rising rate environment. so i think it's more just of a trade a short-term bounce under oversold position i think the market bradley's going to test lower plate jumping is going to fall out of bed i would not be surprised if it had 3600 again on the s&p before this is over. i do think it's building a base step but it's got to test it one time or couple more times before this is over. >> look, when you look at this jobs report right now, joanie, wages are still up.

but they have slowed. you're talking about a situation where wages have slowed for the third straight month. what are you seeing in terms of pay? jamie dimon told us a year ago he was shocked to see this kind of labor market that he has never seen anything so tight in terms of the pressure on wages. is that changing? >> i have to agree. i have been in the recruiting for almost 25 years. i have never seen anything like this employment market. employers are forced to raise wages. workers are having a challenge with gas prices and putting food on the table. i am surprised we are not sink people actually come back to work because of those issues. employers are raising wages. we got to a point right now we will see them steady and just hold.

i do not expect to see large wage increases moving forward. but that is going to be a challenge if we continue this inflation. state where week away from earnings to think we'll have announcements kenny and would you be selling into the second quarter earnings seasons? >> i would not beat selling into the second quarter earnings season we've seen the numbers revised a little bit lower. were going to hear during the course of the season but what i worried about is the pressure that's were going to see the pressure. down here i would not be selling abby putting more money to work in the names that are going to benefit as we make our way through. what i think is a current recession already but whether or not the government thanks were and it's real shot we are in it already. >> the big report we are all focused on is happening next week. that is the inflation numbers but look at the cpi out on wednesday per week at the ppi on thursday. we continue to see these numbers elevated print even as some people say inflation is peaking. what are your thoughts on the consumer price index out on wednesday?

and the ppi index expected by the way to be up 10% plus year-over-year on the ppi. assists price into the market, can? >> i think people understand that inflation is not peaked in is going to continue to elevate pray think the expectation is there for the cpi per think the numbers expected to be 8.8% which is up over last month a .6% and ppi at 10.4 or 10.5% which is right where it was. inflation continues to remain elevated. and i think that is exactly going to tells what's going to cost two weeks before the fed has her july meeting. i think that's going to really solidify the fact that they have to raise rates to be more aggressive breed that is why think the market is going to continue to come under pressure. spate great to see about thank you. major power outages across a because of the summer caused by the climate change agenda new energy policies. daniel turner is next sounding the alarm. stay with us

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spirit welcome back. president biden aim to lower gasoline prices by tapping the u.s. emergency strategic oil reserves. so why were more than 5 million barrels of oil sent to europe and asia last month including china? twenty right now power of the future founder executive director, daniel turner. daniel, great to have a this weekend. it really was astounding to see 5 million barrels be exported to europe and asia when the president said the whole point of tapping into the strategic oil reserves was to lower gasoline prices for america. >> that is exactly right. their side something either nefarious or really bad communication going on. when the president made this announcement on march 30 firth said this over domestic used to lower prices. then it turns out his administration particulate secretary jennifer as a

secretary of energy oversees the strategic reserves, they weren't selling on the world market. and so how is it possible the president is saying one thing and his administration is doing something else? bad enough to sell it on the world market when americans desperately need it domestically. but also why are we selling it to our adversary communist china? this an awful lot here to investigate. and i hope congress and the media does its job. spate it's actually extraordinary. danielle you're also sanding the alarm on energy this summer. john told me too expect blackouts. you are warding there could be widespread power outages pc green energy policy is to blame for some of those. >> absolutely. the only reason i can say that definitively as we just need to look at those countries around the world that have gone in greener faster than the united states. particulate germany. just this morning germany announced they were trying to

curtail pool filtration because they are worried about their electric grid and it is in the middle of summer. germany is already rationing electricity nationwide. the reason why is because germany has embraced wind power faster than the technology allows it. now germany is caught trying to put the old coal plants back online. they are still in the struggle with natural gas that they are buying it we want to go down that direction? certain states have embraced it faster than others. california has blackouts, texas has a blackouts. they broadcast from, last year's member bill de blasio had strategically turn off parts of the grid. was brownsville it was east new york it was mostly at minority neighborhoods plunged into

darkness. what that was what we can expect the summer tragically that is what we can expect. the center from wyoming to expect blackouts you are saying the impact of the green agenda the climate change agenda is adding even more pressure because of the pressure on the grid. >> absolutely. and we are embracing this technology faster than it allows. if you look at a place that's not having blackouts, look at china. what is china doing question work there building coal plants. they are using coal plants to manufacture the wind and the solar 70% of wind and solar is made in china. they are manifestly proud trend product we are buying for unreliable electricity but they are using reliable power to manufacture them. again, i do not want to emulate china and anything but it will point out that china is taking their energy grid very, very seriously.

and we are embracing foolishly this unreliable, unproven and very expensive wind and solar. it is causing national problems. spate while very serious situation since china is an adversary. daniel turner thank you very much will keep watching all that we appreciate your time this week and thank you. meanwhile a rare joint warning to the world from the heads of the fbi and the mi five on the threat from communist china. so why is president biden considering cutting back the tariffs on china now? and why isn't congress able to see any reports of hunter biden shady bank transactions with chinese companies question at the top republican on the house oversight committees bring the pressure on janet yellen. congressman james, is here, next.

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>> we consistently see it is the chinese government that poses the biggest long-term threat to our economic and national security. maria: an unprecedented joint warning from fbi director christopher ragan's british counterpart at mi five about the threat of communist china. be aware of the chinese government will steal your technology in order to dominate the market. we are also getting reports of china stepping up efforts to influence u.s. elections this at a time when president biden wants to drop some of the tariffs on china prejudgment of kentucky congressman james comer. congressman is great to have this we can pray thank you so much for being here. your assessment of the chinese communist party and its efforts? >> china is our biggest enemy by far. second would be a distant second period it is very concerning

this administration continues to turn a blind eye to china. they continued to make policy that honestly benefits china more than it does america. i wish we could retake the majority in congress and try to put pressure on the bite administration to put america first like it was when donald trump was president. >> what is this report the ccp is also meddling in u.s. elections? obviously after covid was hurled at america and the world and that ccp tried to cover it up, the ccp got the guy in there. and joe biden what are they doing in the midterms? >> this is something we are all concerned about. let's face it china has technological advantage in a lot of variance. the fact they produced all of our semi conductors. so many of our technological devices are made in china. that is a problem. we found evidence in the past

that china has tried to compromise the in that pentagon so that rules and laws to prevent china from having any type of ownership in any of the parts manufacturers to anything in the united states. this is gone unchecked for so long. china has so many irons in the fire with respect to our technology and america. we had to make sure that when we have elections we have a paper trail. and that when the government issues or the state issues absentees for example there is a tight grip on who actually gets an absentee that someone who actually requested. we have seen some good reforms in a lot of things for the fact that china trying to influence elections through social media or other types of disinformation campaigns, hacking or whatever this is something that every state -- secretary of states would have to keep an eye on. maria: this is just incredible. everything you say is right.

i wish it weren't because this is a scary situation. i know growing up in america is going to be much different than it growing up in an environment work communist china is the number one superpower. and here we have joe biden selling -- sending our oil from the strategic reserves partly to china. you have them pushing electric vehicles but never mentioning tesla even though it was the number one electric producer. now the number one producer is actually hong kong-based. and of course now we have these threats and the biden administration wants to remove tariffs. just a few months after they eliminated the china initiative. there are questions as to why the administration is not doing more to crack down on china. critics are pointing to hunter biden's business dealings with chinese companies. as a ranking of the house oversight committee, you sent a letter to treasury secretary janet yellen asking for reports of u.s. fans of suspicious activity they have flagged on

hunter for further review. there are wet, 150 transactions on that list? tell us about this. >> there are at least 150. which is unprecedented but i would go out on a limb and say hunter biden is more suspicious activity reports filed against his bank accounts than probably anyone in the history of america. i know that is a bold statement but am pretty confident in saying that. prior to joe biden becoming president, any member of congress could go to the treasury department request a list of suspicious activity. there aren't very many in america are very every quarter very few. hunter biden has had over 150. joe biden change the rules in the dark of the night to try and block congressional oversight. and remember maria prior to joe biden any member of congress could have requested this information from the treasure. you did not spend the oversight committee or of any type of classified security clearance. any member of congress could do it. joe biden changed it. this is at least the third time

that joe biden has changed policy or has altered policy to try to protect hunter biden. and i think, we all would agree to hunter biden is a national security risk. the question we have and the reason we are investigating hunter biden is we want to determine is joe biden compromise? when you see him continue to make decisions that are the best interest of china to the detriment of americans you wonder, is our president compromise because of his son's shady business deals? works and out ron johnson on the senate side has investigated the amount of money the biden family has taken in from chinese officials and chinese companies. and peter schweizer has that incredible reporting on this as has miranda devine. what can you tell us from your investigation on the oversight committee in terms of what kind of money we are talking about? what is the biden family taken in from chinese executives in the chinese, and his party? >> think about this, maria. he owes at least $2 million in

back taxes to the irs. we know this. if you owe to megan dollars in back taxes you have had to millions of dollars worth of income. he has never had a job in the last decade. so his primary source of revenue as far as i can tell is from communist china and russia. so we are talking about millions of dollars, millions of dollars. who knows what else he has for that's what we want to see the bank records that's potency suspicious activity reports if you have what are 50 suspicious reports filed against various accounts, you are doing some bad business they are pre-there something that caused a trigger for this. again i don't thing the average american realizes how few of these are issues. they were created to catch bundling for money into terror cells in the united states. this is serious and we are not going to let up on this. and i hope the treasury department will finally allow us to have this investigation for they don't do it now are going to get in january can promise

you that maria. spirit congressmen will be watching investigation for this is all incredibly extraordinary and really shameful that the only place you hearing about this is on foxbusiness and fox news. that media won't touch it. congressman thank you. chad for joining us this weekend but don't go anywhere more wall street right after this. only at vanguard, you're more than just an investor you're an owner. that means that your goals are ours too. and vanguard retirement tools and advice can help you get there. that's the value of ownership. ♪♪ whenever heartburn strikes get fast relief with tums. it's time to love food back.

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spirit welcome back for another big program of the works for next weekend. make sure you tune into wall street every friday night at 7:00 p.m. eastern right here. meanwhile over and fox news channel a c on sunday mornings at 10:00 a.m. eastern live on the fox news channel. "sunday morning futures" will be live at this exclusive interview

so senators ron johnson and marsha blackburn. we'll also talk about the economic backdrops with researcher president, join me live on fox news but right on foxbusiness start smart every weekday from 6:00 a.m. until 9:00 a.m. eastern for mornings with maria. we hope you start your day every weekday with us on foxbusiness. that will do it for us for right now, and have a great rest of the weekend for thanks much for joining me. i will see you again next time. ♪ ♪ ♪ ♪ ♪. gerry: hello. this week on wall street journal at large, democrats tanked the national economy of high inflation's and now a looming recession. across the country and states they run or drink noticeably worse than republican-controlled states. plus voters are losing faith in the institutions of american government. is that a new surprise the way our leaders